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Index of Distressed Property Sales Surges in December: Report
Sales of distressed properties surged in December as many banks resumed foreclosures following the suspensions prompted by robo-signing issues last fall, according to an industry study conducted by Campbell Surveys.
According to the company’s latest study, in the foreclosure-ridden state of California, 66 percent of all transactions tracked in December involved distressed properties. The combined area of Arizona and Nevada similarly suffered, with 62 percent of transactions being distressed.
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